The share price of DCM Shriram fell over 5 percent on BSE in intraday trade on BSE on June 4, a day after the company reported a decline in net profit for the March quarter of FY20.
The company's consolidated net profit for Q4FY20 declined 31.26 percent YoY to Rs 201.27 crore against Rs 292.81 crore.
Sales declined 0.91 percent YoY to Rs 1,862.99 crore in the quarter ended March 2020 against Rs 1,880.17 crore during the same period last year.
The company said its revenues were adversely impacted due to a 23 percent YoY drop in ECU realisation for chlor-alkali products, which led to a reduction of about Rs 500 crore in revenue.
While lower domestic sales of sugar due to lower demand and consequently lower releases the revenue. The lockdown in March, which lowered sales by about Rs 156 crore, also played a part.
At noon, shares of DCM Shriram were trading 4.06 percent down at Rs 287 on BSE.
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